BOSTON, Apr 15, 2009 (BUSINESS WIRE) -- Orthofix International N.V. (NASDAQ: OFIX) (the Company) announced today
it has signed an agreement with the MBA Group (MBA) to expand the
distribution of the Company's spine implant and biologic devices in the
United Kingdom.
As the largest private independent distributor of orthopedic devices in
Europe, MBA generated more than $100 million in total sales in 2008.
After having been Orthofix's exclusive distributor of orthopedic devices
in Spain and Portugal for more than 20 years, MBA expanded their
relationship with Orthofix in 2008 becoming the Company's exclusive
distributor of spine implant products in Spain and Portugal. The new
five-year agreement with MBA is effective as of May 1st.
"MBA has been a key partner during Orthofix's growth over the last 20
years and, after successfully expanding our relationship last year to
include the distribution of our spine implant products in Spain and
Portugal, we are excited to further expand our spine distribution
agreement with them into the important U.K. market," said Alan
Milinazzo, President and CEO of Orthofix International.
Paul Griffin, MBA's Chief Operating Officer and a member of their Board
of Directors said "MBA's excellent and long-standing relationship with
Orthofix, together with our very successful 2008 spine launch led to
this latest agreement after the management teams from both organisations
met to explore opportunities to further expand our mutually beneficial
strategic partnership."
Mr. Griffin added, "The U.K. is one of Europe's top five spine markets,
and by combining Orthofix's extensive spine product portfolio with MBA's
highly experienced UK management team and marketing know-how, we feel
confident in our plans to develop a very successful business together in
this key market. MBA has an excellent and long-established international
reputation for marketing and distributing medical devices, an
unparalleled reputation for customer service in Spain, Italy and
Portugal and is now ready to expand these services into other key areas
in Europe."
About Orthofix
Orthofix International, N.V., a global medical device company, offers a
broad line of minimally invasive surgical, and non-surgical, products
for the spine, orthopedic, and sports medicine market sectors that
address the lifelong bone-and-joint health needs of patients of all
ages-helping them achieve a more active and mobile lifestyle. Orthofix's
products are widely distributed around the world to orthopedic surgeons
and patients via Orthofix's sales representatives and its subsidiaries,
including BREG, Inc. and Blackstone Medical, Inc., and via partnerships
with other leading orthopedic product companies. In addition, Orthofix
is collaborating in R&D partnerships with leading medical institutions
such as the Musculoskeletal Transplant Foundation, the Orthopedic
Research and Education Foundation, Rutgers University, Texas Scottish
Rite Hospital for Children and National Osteoporosis Institute. For more
information about Orthofix, please visit www.orthofix.com.
Forward-Looking Statements
This communication contains certain forward-looking statements under the
Private Securities Litigation Reform Act of 1995. These forward-looking
statements, which may include, but are not limited to, statements
concerning the projections, financial condition, results of operations
and businesses of Orthofix and its subsidiaries and are based on
management's current expectations and estimates and involve risks and
uncertainties that could cause actual results or outcomes to differ
materially from those contemplated by the forward-looking statements.
Factors that could cause or contribute to such differences may include,
but are not limited to, risks relating to the expected sales of its
products, including recently launched products, unanticipated
expenditures, changing relationships with customers, suppliers and
strategic partners, risks relating to the protection of intellectual
property, changes to the reimbursement policies of third parties,
changes to and interpretation of governmental regulation of medical
devices, the impact of competitive products, changes to the competitive
environment, the acceptance of new products in the market, conditions of
the orthopedic industry and the economy, corporate development and
market development activities, including acquisitions or divestitures,
unexpected costs or operating unit performance related to recent
acquisitions and other factors described in our annual report on Form
10-K and other periodic reports filed by the Company with the Securities
and Exchange Commission.
SOURCE: Orthofix International N.V.
Orthofix International, N.V.
Dan Yarbrough, 617-912-2903
Vice President of Investor Relations
danyarbrough@orthofix.com
Copyright Business Wire 2009